Three-way match
An invoice-entry control that checks the purchase order, goods receipt, and vendor invoice agree before payment approval.
A three-way match is performed when an invoice is entered. It checks that the purchase order, goods receipt, and vendor invoice agree on quantity and price before the invoice is approved for payment.
This is different from vendor statement reconciliation. Three-way match checks one invoice at entry. Vendor statement reconciliation is a periodic check of the vendor's statement against your books.
Some ERPs use GR/IR or GRNI matching for the related goods-receipt and invoice-receipt process. Keep it separate from statement reconciliation.
Related terms
Statement Zen Academy Team — Practical guidance based on Statement Zen's vendor statement reconciliation work. · Last updated